Montreal unemployment rate drops to lowest level since December

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Stats Canada says the unemployment rate rose to 5.5 per cent last month, up from 5.3 per cent in May.

The Canadian economy added more jobs than expected in June, helping cement market expectations that the Bank of Canada will raise interest rates for the fourth time in a year next week.

Across Canada, 31,800 jobs were added to the economy.

Summer brought good news for some young people, as the number of those aged 20 to 24 finding jobs last month rose by 26,000, up 5.4 per cent from June 2017.

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The unemployment rate in Northeast B.C. last month fell for the first time after four straight months of increases.

This is published unedited from the PTI feed. "Over the same period, total hours worked grew by 1.4 per per cent", it said. The public sector has increased its membership by 11 800 jobs, while the private sector lost 2,000 employees.

Services sectors, meanwhile, lost 14,700 jobs mostly because of big decreases in accommodation and food services positions as well as wholesale and trade.

Youth unemployment increased to 11.7 per cent last month, up from 11.1 in May. "We're still in a position that the Bank of Canada will tighten in July", said Andrew Kelvin, senior rates strategist at TD Securities.

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DePratto stressed he didn't see anything in the jobs report to deter Poloz from hiking the rate next week.

The May numbers show that imports expanded 1.7 per cent, while exports dipped 0.1 per cent.

Trump escalated by saying the USA could soon impose tariffs on more than $500 billion in Chinese imports.

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